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ME <br />INTERLOCAL AGREEMENT <br />BETWEEN <br />INDIAN RIVER COUNTY, FLORIDA <br />ANIS <br />CITY OF SEBASTIAN, FLORIDA <br />THIS INTERLOCAL AGREEMENT, entered into this i Lith day <br />April 2000, by and between INDIAN RIVER COUNTY, FLOt21E)A, a <br />political subdivision of the state of Florida, hereinafter referred to as COUNTY, and the <br />CITY OF SEBASTIAN, FLORIDA, a municipal corporation of tite State of Florida <br />hereinafter referred to as CITE, for the purpose of road improvements to Farber Street, <br />provides <br />wrrNI3SS[A I: <br />WHEREAS, tate COUNTY and CITY agree that Traffic Impact Fees collected by <br />the COUNTY are for the purposes of capacity improvements to CITY and COUNTY <br />streets; and <br />WHEREAS, tine CITY and COUN'T'Y acknowledges that Barber Street is <br />operating at a failing level of service that requires improvements;and <br />WHEREAS, the CITY and COUNTY acknowledges that through Concurrency <br />Management and Comprehensive Plans that no further impacts can he permitted without <br />capacity improvement; and <br />WHEREAS, the CITY and COUNTY jointly agrees that a moratorium against <br />development in the CITY or COUN'T'Y which impact this arca is not desirable. <br />NOW, THEREFORE,, in consideration of the mutual terms, conditions, proraai, s, <br />covenants and premises hcreinaiier set forth and pursuant to the statutory authority <br />contained in F.S. Chapter 163, the COUNTY and CITY agree as follows: <br />I. The COUNTY authorizes the expenditure of $200,000 of Traffic Impact Fee Riding <br />to the CITY for capacity improvement on Barber Street, as described in the attached <br />"EXHIBIT A" — BARBER STREET ROA 7 IMPROVEMENTS." <br />2. The COUNTY agrees to provide technical oversight and construction inslaectinn of <br />tine utility relocation aspects of the Project. <br />1 The duration or this Agreement is five (5) years frcam the etTective dine, which is dolt <br />the executed ai reenient is filed with the Office of the Clerk of the Court of tnriitm <br />River County, renewable for five (5) adthtion rl yc.tus ifapprovcd by the COUNTY. <br />A. fine CI fY shall provide the remainder of the tinading tions gas ttrx revenue, sales ttrx <br />revenue, or other general revenues of the CITY. <br />5, The CITY shall cuter into construction contracts to complete the Barber Street ttoad <br />irarprtivezrtcuts and provide ovcrsq, ht ol'the Project. <br />ti. All surplus funds shall be rctunwi to dic CITY aml COUNTY in proporti-i (o 11W <br />rc,ntritertic�ns m=ute l)y the Clri Y ,salt ('(it �N I <br />